Home Equity Line of Credit

UTELFCU offers variable rate open end home equity loans. The rate is determined by the 6 month Treasury (T bill) rate plus 3.50% with a floor of 4.80% and a ceiling of 16%. The percentage rate can be adjusted 4 times a year with a maximum rate change of 1% per adjustment and a maximum annual increase/decrease of 4%.

The maximum amount of the credit line is $100,000 and the minimum is $5,000. The maximum period for repayment is 15 years (180 months).

Temporary Disability Insurance is available to qualified borrowers with the cost added to the principal balance of the loan.

Appraisal fee (prices may vary) is not refundable. All loans will utilize full real estate loan closing procedures. Cost is $500 (plus title insurance if first lien).

If you are considering home improvements, bill consolidation, buying a new boat or other major expenses, the home equity line of credit may be for you.

Call us at (315) 724-5133 for an application.